Foreign buyers – why residential real estate may have more wind under its wings
August 3, 2021
Recent National Association of Realtors report cites 4 straight years of declines of foreign purchases of US real estate.
For year March 2021, foreigners bought only $54 billion in US residential real estate vs peak of nearly 3x higher – or $153 billion on 2017. The trend has been due to politics and COVID-19 restrictions on travel and with robust domestic demand picking up slack, the industry is still humming.
That said, we expect the trend to reverse coming years as both COVID-19 and political tensions ease. The top destinations remain Florida and Texas (where Skytian actively invests) and California.
To view the full recent WSJ article on this topic please read below: